Chancellor Osborne Urged to Help UK Businesses

The Chancellor George Osborne has been urged by business leaders to allocate more investment on capital projects rather than on the current expenditure which will give boost to the construction industry and encourage economic growth.

Improved access to government funds, cutting red tape for businesses and giving greater investment to infrastructure projects are the key demands by business leaders. The call comes ahead of the Chancellor’s budget statement next month which is expected to make significant announcements for creating new jobs and boosting the national economy.

The Construction Products Association (CPA) has urged the Chancellor to cut VAT for domestic projects that will improve energy efficiency for thousands of homes across the UK.

Chief Executive at CPA, Michael Ankers, said that the Chancellor needs to allocate in the budget more capital spending for housing and infrastructure projects because it will give confidence to businesses and provide sustainable investment for growth.

Mr Ankers said: “The 2012 Budget provides the Chancellor with the opportunity to introduce a package of measures to stimulate the economy and deliver growth. This should include a further rebalancing of public spending away from current expenditure and into capital investment, as this will not only generate economic activity and employment but will increase long term productivity as a result of improving the infrastructure of this country.”

What would your suggestions be to the Chancellor Osborne to help businesses across the UK? Is capital investment the best way to create jobs and sustainable development for growth? Share your thoughts by leaving a comment below:

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